Venerable US retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector.
As the Canadian retailer announced that it has completed its privatization transaction, it was also revealed that CEO Helena Foulkes will be stepping down, to be replaced by executive chairman Richard Baker.
Three leading proxy advisory firms have recommended that HBC shareholders vote in favour of the deal that would see a group led by the company’s executive chairman, Richard Baker, take the retailer private.
Nordstrom's new store, located a few blocks from Central Park, marks the 118-year-old company's first flagship offering in the nation's biggest retail market and aims to reboot a format that has been fading.
The Canadian owner of Saks Fifth Avenue announced on Monday that, following an extensive review process, it has entered into a definitive agreement with a group of shareholders to take the company private.